On June 4, 2024 Ascendis Pharma A/S (Nasdaq: ASND) reported that company executives will participate in a fireside chat at the Goldman Sachs 45th Annual Global Healthcare Conference on Tuesday, June 11, 2024, at 8:00 a.m. ET in Miami, Florida (Press release, Ascendis Pharma, JUN 4, 2024, View Source [SID1234644077]).

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A live webcast of the fireside chat will be available via the Investors & News section of the Ascendis Pharma website at investors.ascendispharma.com. A webcast replay will also be available on this website shortly after conclusion of the event for 30 days.

On June 4, 2024 Akari Therapeutics Plc (Nasdaq: AKTX), an innovative biotechnology company advancing therapies for autoimmune and inflammatory diseases, reported the successful initial closing of a private placement financing round (Press release, Akari Therapeutics, JUN 4, 2024, View Source [SID1234644076]). This transaction is expected to raise an aggregate of approximately $7.6 million in gross proceeds from both new and existing investors.

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"We are pleased to announce this financing for Akari Therapeutics," said Samir R. Patel, MD, Interim President and CEO of Akari Therapeutics. "The overwhelming interest from investors allowed the company to upsize the transaction to $7.6 million and highlights the excitement surrounding our science and the strategic direction of the company, and our merger with Peak Bio, which we expect to close in the third quarter of 2024."

The majority of the private placement financing was supported by new investors, with continued support from certain existing investors, led by Akari’s Chairman, Dr. Ray Prudo, and Interim President and CEO, Samir R. Patel, MD, underscoring their strong confidence in the company’s future. "I believe investors share our enthusiasm for the Akari-Peak go-forward strategy and combined scientific potential. The financing supports investors’ belief in our strategic vision and the future of our combined companies and the management team," added Dr. Patel.

The company entered into a definitive agreement for the private placement with the investors on May 29, 2024, pursuant to which the Company agreed to sell and issue an aggregate of 4,029,754 unregistered American Depository Shares ("ADSs"), each representing 2,000 of the Company’s ordinary shares, and Series C Warrants (the "warrants") to purchase up to 4,029,754 ADSs, at a per unit price of $1.885 per ADS and warrant. The warrants have a term of 3 years from the closing date of the private placement and have cashless exercise provisions. The warrants (other than those issued to Dr. Ray Prudo and Samir R. Patel, M.D.) have an exercise price of $1.76 per ADS, which is equal to the Nasdaq have an exercise price of $1.76 per ADS, which is equal to the Nasdaq official closing price of the Company’s ADSs on the Nasdaq Capital Market on May 29, 2024. The warrants issued to Dr. Ray Prudo and Samir R. Patel, M.D., have an exercise price of $1.79 per ADS, which is equal to the price at which the Company’s ADSs were last sold on the Nasdaq Capital Market on May 29, 2024.

In connection with the initial closing of the private placement on May 31, 2024, the Company received gross proceeds of approximately $7.2 million, and issued 3,817,553 unregistered ADSs and warrants to purchase up to an aggregate of 3,817,553 ADSs. The remaining 212,201 ADSs and warrants to purchase up to 212,201 ADSs are expected to be issued and sold by the Company within 90 days of May 31, 2024, subject to receipt of payment related thereto.

Paulson Investment Company LLC acted as the exclusive placement agent for the financing.

The securities described above were offered and sold in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act") and Regulation D promulgated thereunder and have not been registered under the Act or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from such registration requirements.

No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to subscribe for, buy or sell or the solicitation of an offer to subscribe for, buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of, or offer to sell or buy, securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This communication is for informational purposes only. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, and otherwise in accordance with applicable law.

On June 4, 2024 PharmaMar (MSE:PHM) reported data from a Phase II trial evaluating PharmaMar’s lurbinectedin in combination with irinotecan in patients with relapsed Small Cell Lung Cancer (SCLC) after prior platinum-based treatment at the American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) meeting, which took place from 31st May to 4th June in Chicago, United States (Press release, PharmaMar, JUN 4, 2024, View Source [SID1234644032]).

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The results show that combining these two drugs produces a synergy that enhances the activity of lurbinectedin, resulting in high and durable response rates in populations that are sensitive, with a chemotherapy-free interval greater than 90 days (CTFI> 90 days), and platinum-resistant with a chemotherapy-free interval of less than 90 days (CTF< 90 days).

Particularly encouraging are the data drawn from the subgroup of 74 patients with a chemotherapy-free interval greater than 30 days (CTFI>30 days) with a response rate of 52.7% and a median response duration of 7.6 months. Among the study data within this subgroup, the overall survival (OS) data is also encouraging, with a median of 12.7 months. The safety profile has proven to be manageable with a low percentage of treatment interruptions.

Dr. Luis Paz-Ares Rodríguez, Head of Medical Oncology at the "Hospital Universitario 12 de Octubre" commented: "although both irinotecan and lurbinectedin have demonstrated activity separately in monotherapy in SCLC, these compounds with different mechanisms of action have shown an important synergy when combined". The encouraging results in the population referenced in the LAGOON trial (sensitive and resistant patients, CTFI>30d) reinforce the rationale for including this combination as an experimental arm with this type of patient in the ongoing pivotal trial.

On June 3, 2024 Kiromic BioPharma, Inc. (the "Company") reported to have issued a 25% Senior Secured Convertible Promissory Note (the "Note") to an accredited investor. The Note has a principal amount of $2,000,000, bears interest at a rate of 25% per annum (the "Stated Rate") and matures on June 3, 2025 (the "Maturity Date"), on which the principal balance and accrued but unpaid interest under the Note shall be due and payable (Press release, Kiromic, JUN 3, 2024, View Source [SID1234644615]). The Stated Rate will increase to 27% per annum or the highest rate then allowed under applicable law (whichever is lower) upon occurrence of an event of default, including the failure by the Company to make payment of principal or interest due under the Note on the Maturity Date, and any commencement by the Company of a case under any applicable bankruptcy or insolvency laws.

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The Note is convertible into shares (the "Conversion Shares") of the Company’s common stock, par value $0.001 per share (the "Common Stock"), at an initial conversion price of $2.50 per share (the "Conversion Price"), subject to a beneficial ownership limitation equivalent to 19.99% (the "Beneficial Ownership Limitation").

The unpaid principal of and interest on the Note constitute unsubordinated obligations of the Company and are senior and preferred in right of payment to all subordinated indebtedness and equity securities of the Company outstanding as of the Issuance Date; provided, however, that the Company may incur or guarantee additional indebtedness after the Issuance Date, whether such indebtedness are senior, pari passu or junior to the obligations under the Note, which are secured by all of the Company’s right, title and interest, in and to, (i) all fixtures (as defined in the Uniform Commercial Code, the "UCC") and equipment (as defined in the UCC), and (ii) all of the Company’s intellectual property as specified in the Note, subject to certain exclusions as described in the Note.

The foregoing description of the Note is qualified in its entirety by reference to the full text of such Note, a copy of which is attached hereto as exhibit 10.1 and incorporated herein by reference.

On June 3, 2024, Propanc Biopharma, Inc. (the "Company") reported to have entered into and closed a loan agreement (the "First Loan") with an investor (the "First Investor"), pursuant to which the First Investor loaned the Company an aggregate principal amount of $20,000 AUD (Filing, 8-K, Propanc, JUN 3, 2024, View Source [SID1234644284]). The Company intends to use the net proceeds therefrom for general working capital purposes.

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The maturity date of the First Loan is June 3, 2025, or sooner at the discretion of the Company, and the First Loan bears an interest rate of twelve percent (12%) per annum. The Company has the right to prepay in full at any time with no prepayment penalty.

Effective June 5, 2024, Propanc Biopharma, Inc. (the "Company") entered into and closed a loan agreement (the "Second Loan") with an investor (the "Second Investor"), pursuant to which the Second Investor loaned the Company an aggregate principal amount of $100,000 AUD. The Company intends to use the net proceeds therefrom for general working capital purposes.

The maturity date of the Second Loan is June 5, 2025, or sooner at the discretion of the Company, and the Second Loan bears an interest rate of twelve percent (12%). The Company has the right to prepay in full at any time with no prepayment penalty.

The foregoing descriptions of each of the Loan do not purport to be complete and are qualified in their entirety by reference to the full text of each of the Purchase Agreements and the Loans, which are filed as Exhibits 4.1, and 4.2 to this Current Report on Form 8-K (this "Form 8-K") and are incorporated herein by reference.